PIK to get EUR 338m in new financing from Sberbank

By A staff reporter 2009-09-24T00:00:00

Troubled Russian property developer PIK Group has reached agreement with Sberbank, Russia's largest state-owned lender, on a EUR 338 mln financing facility to fund new projects. The new loan is conditional on the developer servicing its existing debt of EUR 318 mln, Sberbank's chairman German Gref told newspaper The Moscow ...

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